CRS: An Introduction to the Design of the Low-Income Housing Tax Credit, October 15, 2008

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The CRS is a Congressional "think tank" with a staff of around 700. Reports are commissioned by members of Congress on topics relevant to current political events. Despite CRS costs to the tax payer of over $100M a year, its electronic archives are, as a matter of policy, not made available to the public.

Individual members of Congress will release specific CRS reports if they believe it to assist them politically, but CRS archives as a whole are firewalled from public access.

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Title: An Introduction to the Design of the Low-Income Housing Tax Credit

CRS report number: RS22389

Author(s): Mark Patrick Keightley, Government and Finance Division

Date: October 15, 2008

Abstract

The Emergency Economic Stabilization Act of 2008 (EESA), P.L. 110-343, includes a temporary change to the LIHTC with the intent of assisting victims of Hurricane Ike and the severe weather and flooding in the Midwest. Specifically, EESA allows certain states to allocate additional credits to affected areas for the years 2009, 2010, and 2011. For states located in the Midwestern disaster area the additional allocation is equal to $8.00 multiplied by the state's disaster area population. For the two states most directly affected by Hurricane Ike, Texas and Louisiana, the additional allocation is equal to $16.00 multiplied by the state's population residing in affected counties/parishes.